52 Dudley Ave

Yorkville, NY 13495

$168,600B+

10 bd · 5.0 ba · 5,487 sqft · Built 1935 · MultiFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,715/mo
• Mortgage (P&I): −$884
• Tax + insurance: −$739
• HOA: −$0
• Vac / Maint / Mgmt: −$1,410
• Net cashflow: $3,682/mo
• Annual: $44,183/yr
• Cap rate: 32.50%
• Cash-on-cash: 93.59%
• DSCR: 5.16
• 1% rule: 3.98%
• Cash to close: $47,208

Investor read

• This is a 5 × 2-bed/1.0-bath units multifamily listed at $169k.
• At list price, monthly cash flow is $4k ($44k/yr) — positive. Per door: $736/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $169k).
• It's been on market 18 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $166k (1.5% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.9% local appreciation)).
• Location reads 72/100 on livability (#359 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools D-, amenities F.
• New York Mills Union Free School District (suburban): math 60% / reading 65% proficiency, ranked #224 of 590 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 4.8% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.